Provided is a topical oral formulation, in the form of a gel, comprising 1 to about 70% tranexamic acid and chlorhexidine, with a viscosity of about 100 to about 15 000 cP. Further provided are uses of the formulation in the manufacture of a medicament for the treatment or prevention of alveolar ostetitis following tooth extraction, or for producing or maintaining a blood clot in a tooth extraction site in a patient to which an anticoagulant has been or is to be, administered, or who suffers from an excessive bleeding disorder.